Ex-NAB MD launches fintech disruptor to take on majors

An ex-NAB managing director has launched a new fintech disruptor to take on the major banks, which he says could do what Aussie Home Loans did to the mortgage market in the 1990s. Officially launching on 28 September, Banjo is an online lender providing secured and unsecured loans to the 51% of SME’s who have no business lending product other than an overdraft or credit card.CEO Andrew Colliver – who was most recently managing director, business performance of corporate, institutional & specialised banking at NAB – along with a team of other ex-bankers and fintech experts, has spent the last two years building the marketplace lending platform that promises to “take the pain out of business borrowing”.

Source: Ex-NAB MD launches fintech disruptor to take on majors